The Curacao Ministry of Finance (MoF) is making steady progress in establishing a new licensing regime.
On December 11, the MoF unveiled the proposed license fees for both the existing transitional regime and the forthcoming regulatory framework.
Dmitry Hotsyn, Head of CIS Desk and Senior Consultant at 4H, observes and comments on the situation:
"Under the transitional regime, the total annual license fee is approximately EUR 62,100, encompassing all associated payments. These licenses do not differentiate between Business-to-Business (B2B) and Business-to-Consumer (B2C) operations.
For the upcoming B2C licenses, the annual fee is set at around EUR 55,600, which includes application and due diligence fees, among others.
Meanwhile, the new B2B licenses will cost approximately EUR 30,500 per year, again covering all related payments.
Transitional licenses permit operators to include up to 40 domain names under a single license. Adding additional domain names will cost about EUR 250 each per year.
The new licensing structure mandates a fee of approximately EUR 250 per domain per year, with no cap on the number of domains.
It's important to note that these fees do not apply to operators holding sublicenses, who still have negotiable rates with their master license holders.
Even with the rise in licensing fees, Curacao's future in the industry appears to remain very promising!
Curacao remains competitive with other universal licenses, offering quite modest fees and highly favorable tax conditions, such as no Gross Gaming Revenue (GGR) taxes and a 2% corporate income tax. The new licenses, with enhanced Anti-Money Laundering (AML) and responsible gambling requirements, are likely to foster greater willingness among Payment Service Providers (PSPs) and other financial partners to collaborate with Curacao-licensed operators, in contrast to other regimes like the Anjouan licensing framework.
These competitive advantages are expected to uphold Curacao into a leading position in the offshore gaming jurisdiction landscape.
4H Agency is currently preparing a detailed report on the latest developments in Curacao's gaming sector. Keep an eye out for further updates!"
On December 11, the MoF unveiled the proposed license fees for both the existing transitional regime and the forthcoming regulatory framework.
Dmitry Hotsyn, Head of CIS Desk and Senior Consultant at 4H, observes and comments on the situation:
"Under the transitional regime, the total annual license fee is approximately EUR 62,100, encompassing all associated payments. These licenses do not differentiate between Business-to-Business (B2B) and Business-to-Consumer (B2C) operations.
For the upcoming B2C licenses, the annual fee is set at around EUR 55,600, which includes application and due diligence fees, among others.
Meanwhile, the new B2B licenses will cost approximately EUR 30,500 per year, again covering all related payments.
Transitional licenses permit operators to include up to 40 domain names under a single license. Adding additional domain names will cost about EUR 250 each per year.
The new licensing structure mandates a fee of approximately EUR 250 per domain per year, with no cap on the number of domains.
It's important to note that these fees do not apply to operators holding sublicenses, who still have negotiable rates with their master license holders.
Even with the rise in licensing fees, Curacao's future in the industry appears to remain very promising!
Curacao remains competitive with other universal licenses, offering quite modest fees and highly favorable tax conditions, such as no Gross Gaming Revenue (GGR) taxes and a 2% corporate income tax. The new licenses, with enhanced Anti-Money Laundering (AML) and responsible gambling requirements, are likely to foster greater willingness among Payment Service Providers (PSPs) and other financial partners to collaborate with Curacao-licensed operators, in contrast to other regimes like the Anjouan licensing framework.
These competitive advantages are expected to uphold Curacao into a leading position in the offshore gaming jurisdiction landscape.
4H Agency is currently preparing a detailed report on the latest developments in Curacao's gaming sector. Keep an eye out for further updates!"
